SpaceX Stocks Close at $148, Below Debut Price After Nasdaq 100 Inclusion

SpaceX stocks closed at $148 on Wednesday, marking the second consecutive day the aerospace contractor traded below its debut price of $150 per share. The decline followed the company's inclusion in the Nasdaq 100 index on Tuesday, less than a month after its stock market debut on June 12. The rapid inclusion stemmed from the exchange's revised rules allowing new public companies faster entry into the widely-tracked benchmark, requiring index funds and ETFs to purchase SpaceX shares to match the new lineup.

SpaceX IPO Raises $85.7 Billion in Record Offering

SpaceX's record initial public offering raised a total of $85.7 billion after underwriters exercised the "greenshoe" overallotment. The company initially offered 555.6 million shares for a set price of $135 each. The stock soared in the days following its debut, notching a closing high of $201.80 on June 16.

Index Funds Purchase Shares Following Nasdaq 100 Addition

The SpaceX inclusion required index funds and exchange-traded funds tied to the benchmark to buy shares of the company in order to match the new lineup. Elon Musk's aerospace and defense contractor was included in the Nasdaq 100 index on Tuesday.

Analysts Issue Ratings from Overweight to Sell

Mostly bullish analyst ratings followed the inclusion into the Nasdaq 100. Morgan Stanley initiated coverage, rating shares of SpaceX as "overweight" with a price target of $300. Bernstein initiated coverage at "outperform" with a price target of $239. RBC initiated with an "outperform" rating and price target of $225. UBS initiated with a "buy" rating and 12-month price target of $210 per share.

Bulls pointed to the company's lead in reusable rocket technology and launch services, its vast Starlink satellite internet service, and the potential to improve the margins for both of these businesses. For growth, analysts pointed to SpaceX's potential to develop artificial intelligence products and services ranging from agentic coding tools to rival Anthropic's Claude or OpenAI's Codex and the development of orbital data centers.

In the skeptical minority, MoffettNathanson initiated coverage of SpaceX with a neutral rating, and CFRA recommended selling shares.

FAQ

What price did SpaceX stocks close at on Wednesday? SpaceX stocks closed at $148 on Wednesday, below the company's first trading price of $150 per share for a second day in a row.

When was SpaceX included in the Nasdaq 100 index? SpaceX was included in the Nasdaq 100 index on Tuesday, less than a month after its stock market debut on June 12.